The landscape of downstate New York may soon undergo significant changes with the potential introduction of three new casino facilities poised to revolutionize the region's entertainment and economic milieu.
Deadline Controversies and Legislative Tensions
The New York State Gaming Facility Location Board recently set a crucial new bid deadline for these casino proposals to June 27, 2025. This decision is, however, under scrutiny due to a bill awaiting Governor Kathy Hochul’s signature, which mandates a more accelerated timeline. If signed, this legislation will override the board’s decision, requiring bidders to submit their proposals by August 31, 2024.
This bill, authored by Senator Joe Addabbo and known as S9673A, successfully passed through both the house and senate in early June. The facility location board has voiced concerns regarding the ambitious timeline dictated by this bill, marking a significant point of contention.
Board’s Standpoint on Project Timelines
Vicki Been, a member of the board, articulated these concerns, emphasizing the impracticality of a hastened deadline, stating, “Politicians may want a quicker deadline, but that would be impractical.” The board underlined that bids cannot be reviewed until all ‘entitlements and zoning’ are approved, a process involving environmental impact studies and necessary zoning changes, which are extensive preconditions that must be met before any proposals can be evaluated.
At their recent meeting, the board members acknowledged the possible conflict between their set deadline and the stipulations of S9673A. They expressed hope that their reasoning will be valuable for Governor Hochul's decision-making process. “The hope would be that our reasoning will be helpful to the governor,” Been added.
High-Stakes Competition Among Bidders
Amid these legislative and bureaucratic dramas, 11 bidders are fiercely competing to develop casinos across prime locations spanning Times Square to Brooklyn. These proposals are not just about gaming facilities but encompass resorts, housing units, and neighborhood improvements, promising to reshape their respective areas.
The proposals come from both commercial and tribal operators, adding to the competitive and diverse landscape of prospective developments. Some of the notable bids include:
- Avenir: Silverstein Properties and Greenwood Gaming in Manhattan
- Bally’s Links at Ferry Point: Bally’s Corporation in The Bronx
- Caesars Palace Times Square: Caesars Entertainment, SL Green, and Roc Nation in Manhattan
- Coney Project: Thor Equities, Legends Entertainment, the Chickasaw Nation, Saratoga Casino Holdings in Brooklyn
- Freedom Plaza: Soloviev Group and Mohegan Gaming in Manhattan
- Metropolitan Park: Steven Cohen and Hard Rock International in Queens
- MGM Empire City: MGM Resorts International in Yonkers
- Resorts World New York City: Genting Group in Queens
- Sands New York: Las Vegas Sands in Nassau County, Long Island
- Saks Fifth Avenue: Hudson’s Bay Company, with the operator to be determined, in Manhattan
- Wynn New York City: Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan
The Bally’s Bronx proposal and Steve Cohen’s Queens proposal notably require rezoning from their parkland designations to accommodate the casino facilities, further complicating the aggressive timeline proposed by the new legislation.
Balancing Speed and Quality in the Review Process
As the board continues to confront the pressure of a potentially expedited deadline, it remains optimistic that acquiring sufficient bids by their set date of June 2025 will not impede the ultimate aim of issuing licenses by the end of that year. Their position reflects a cautious but determined approach to managing these high-profile, high-stakes projects.
In a broader context, the eventual outcome of these bids promises to significantly impact the entertainment and economic sectors of downstate New York. The integration of gaming facilities with broader development projects could breathe new life into some of the state’s most iconic areas, making this a pivotal moment for involved stakeholders.
“Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable,” succinctly captured the board's stance on the matter.
The unfolding scenario between lawmakers, the gaming facility location board, and the eager bidders underscores the intricate balance of governance, investment, and locality in shaping the future of downstate New York. The city's landscape may soon reflect these tectonic shifts, heralding a new era of development and entertainment.